London Luxury Home Demand Plummets, Prime Market Feels the Chill
April 4, 2024Demand for luxury homes in London has declined in the first quarter of the current year.
Less than 20% of prime and super-prime homes listed in London are finding buyers.
Upcoming changes in tax law, specifically the removal of non-dom status, are anticipated to further dampen the high-end housing market.
The prime rental sector is also seeing a decrease in demand, with inquiries dropping by 4% to 8%.
Overall, London's prime market demand has fallen by 1.7% in the first quarter and 1.8% over the past year.
Super-prime buyer demand has not changed significantly over the quarter but has seen a 5.5% decrease annually.
Summary based on 7 sources
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Sources
Mansion Global • Apr 2, 2024
Demand for London’s Luxury Homes Fell in the First QuarterMansion Global • Apr 2, 2024
Demand for London’s Luxury Homes Fell in the First QuarterMansion Global • Apr 2, 2024
Demand for London’s Luxury Homes Fell in the First QuarterMansion Global • Apr 2, 2024
Demand for London’s Luxury Homes Fell in the First Quarter